Raynor Home Buying Costs Terms of Use

1. About These Terms

These terms apply when you use Raynor Home Buying Costs (“the calculator”), a purchase cost calculator made by Raynor Lending Solutions (“we”, “us” or “our”) for use in ChatGPT. By using the calculator, you agree to these terms.

ChatGPT is provided by OpenAI under its own terms. These terms cover only the calculator.

2. What the Calculator Does

The calculator estimates the upfront costs of buying property in Australia: transfer (stamp) duty after any concession it applies, mortgage registration and transfer fees, lenders mortgage insurance (LMI), the loan and loan to value ratio (LVR), and the cash needed to complete. It works from published state government rates and the figures and options you give it. It is free to use and provides general information only.

3. Estimates and Assumptions

• Every result is an estimate. It is only as accurate as the figures and options you provide, and it doesn't fill in missing details for you.
• Home and first home buyer concessions are applied by price, property type and purpose only. The calculator doesn't assess whether you meet every eligibility condition, such as residency, occupancy or prior property ownership.
• The LMI estimate comes from one publicly available premium table. The premium you're actually charged is set by the lender and insurer and may be higher or lower.
• Rates, thresholds and concessions change. Each result shows the date of the rules data it used, which may not reflect changes made after that date.

4. Not Advice or Approval

The calculator doesn't take into account your objectives, financial situation or needs. Its results are not financial or credit advice, not a borrowing approval, pre-approval or offer of credit, and not a recommendation of any lender or loan product. It doesn't assess how much you can borrow or whether a lender would lend to you.

5. Check Before You Rely on It

Don't rely on the calculator alone when making a decision. Before you sign a contract or commit to a purchase:

• confirm duty, concessions and government fees with the relevant state revenue office or land registry, using the Source links in each result where shown
• confirm your full purchase costs with your conveyancer or solicitor
• confirm the loan, LMI and lender fees with your lender or broker

6. What the Calculator Doesn't Cover

• Foreign buyer surcharges
• Government grants and home buyer schemes, such as a first home owner grant, the First Home Guarantee or Help to Buy
• Building contracts, construction costs and progress payments on vacant land
• Unusual transactions, including off-the-plan concessions, buying through a company, trust or SMSF, buying part of a property, transfers between family members and refinancing
• LMI waivers
• Other costs, such as inspections, insurance, rates and water adjustments and moving costs, unless you include them in legal and bank fees

7. Your Information

The calculator has no accounts and doesn't save your scenarios. It needs only figures and options, so please don't include names, addresses or other personal details.

How calculation requests are processed by our website host and by OpenAI is explained in our Privacy Policy.

8. Availability and Changes

We may update, pause or withdraw the calculator, or change these terms. Changes to these terms will be posted on this page with an updated date.

9. Your Rights

Nothing in these terms excludes, restricts or changes any right or remedy you have under the Australian Consumer Law or any other law that can't be excluded.

10. Contact Us

For help with the calculator or questions about these terms, see Raynor Home Buying Costs support or email jai@raynorlendingsolutions.com.au.